Popular meme coin Pepe (PEPE) is under significant pressure, primarily driven by the profit-taking activity of its long-term holders (LTHs). It currently trades at $0.0000090, witnessing an 18% price decline over the past four days.

Two notable on-chain metrics reveal that previously dormant PEPE tokens held by its LTHs have begun to change hands. If this cohort of PEPE holders continues to sell, the meme coin may witness another double-digit decline.

Pepe Long-Term Holders Book Profits

The first metric indicating profit-taking among Pepe’s long-term holders (LTHs) is its Mean Coin Age. BeInCrypto’s analysis shows that this metric has declined by 1% since the beginning of October, currently standing at 300.

This metric calculates the average age of all coins held by addresses on the blockchain. A decline indicates that older coins are being sold or transferred, suggesting that long-term holders (LTHs) are beginning to liquidate their positions. This activity may be driven by profit-taking or a shift in market sentiment.

Read more: Pepe: A Comprehensive Guide to What It Is and How It Works

Furthermore, PEPE’s falling Mean Dollar Invested Age (MDIA), which measures the average age of a token’s holdings based on their dollar value, highlights the selling activity among its LTHs. At 153 at press time, it has noted a 4% decline since October 1.

A decreasing MDIA suggests that older, more established holders are selling their tokens. It signals a change in market sentiment, indicating that investors are becoming less confident in the token’s long-term prospects.

The surge in profit-taking activity among an asset’s LTHs is a bearish signal, indicating a loss of confidence among a cohort of investors known for weathering numerous headwinds. This shift may prompt short-term holders (STHs), often called “paper hands,” to sell their coins.

Since STHs hold a significant percentage of an asset’s circulating supply, their selling can further exacerbate downward pressure on the price.

PEPE Price Prediction: August 5 Low on the Horizon

If PEPE’s selling pressure intensifies, the coin could continue its decline. According to its Fibonacci Retracement readings, PEPE may fall an additional 35%, reaching $0.0000058 — a level last seen on August 5.

Read more: Pepe (PEPE) Price Prediction 2024/2025/2030

On the other hand, if PEPE’s LTHs refrain from selling their tokens and market sentiment improves, PEPE could reverse course. In that scenario, the coin may initiate an upward trend and attempt to break resistance at $0.000012.

Aptos’s APT coin has experienced a resurgence in buying activity following Franklin Templeton’s announcement of the expansion of its tokenized US Treasuries fund — the Franklin OnChain US Government Money Fund (FOBXX) — on the Layer-1 (L1) blockchain.

With a surging bullish bias toward the altcoin, it is poised to revisit its six-month high. This analysis explores how soon this may occur. 

Aptos Joins the FOBXX fund, APT Gains

On Wednesday, Franklin Templeton, a leading investment manager with over $1.4 trillion in assets, announced the launch of its FOBXX on the Aptos blockchain. This news drove APT to an intraday day high of $8.33. While the Aptos’ price has since shed some of these gains, it still notes a 1% hike over the past 24 hours. As of this writing, APT is trading at $7.96.

Furthermore, APT’s open interest has surged by 16% within the same period. This measures the total number of the coin’s outstanding futures or options contracts that have not been settled or closed. 

Read more: Where To Buy Aptos (APT): 5 Best Platforms for 2024

The combination of rising prices and increasing open interest often reflects bullish sentiment among traders. The willingness to add new positions indicates they expect the price movement to be sustained.

APT’s positive funding rate of 0.0074% supports this bullish outlook. A positive funding rate signifies bullish sentiment among traders. It suggests that more participants are confident in the price rise, leading them to take long positions. This can create upward pressure on the price of the underlying asset.

APT Price Prediction: Price May Break Above Crucial Resistance Level

APT’s rising Relative Strength Index (RSI) reflects the surge in demand for the altcoin. At press time, the indicator stands at 61.51.

The RSI measures an asset’s overbought and oversold market conditions. It ranges between 0 and 100, with values above 70 suggesting that the asset is overbought and due for a correction. Conversely, values below 30 indicate that the asset is oversold and may witness a correction.

At 62.99, APT’s RSI suggests that buying momentum is high and outweighs profit-taking activity. According to the coin’s Fibonacci Retracement tool, if this trend continues, APT’s next target is $10.11, a high it last reached in April. If it breaches this crucial resistance level, it may chart its course toward $19.48.

Read more: Aptos (APT) Price Prediction 2024/2025/2030

However, if the uptick in Aptos’ price prompts holders to begin profit-taking, the coin may lose some of its gains and drop toward its August 5 low of $4.32. 

After a recent surge fueled by high demand and speculative trading, SUI price risks falling by double digits. This comes after a 124% 30-day price increase, which made the altcoin the best-performing crypto in the top 100.

While the broader market may hope for a higher high, data shows that a run toward $2 might not come easy. This on-chain analysis explains why investors should be cautious in the coming days.

Euphoria Is Not Good News for Sui

As of this writing, the altcoin’s price is $1.85, representing a 3% decline in the last 24 hours. Interestingly, the token’s performance aligns with BeInCrypto’s prediction, which suggested that SUI might not face intense headwinds after the token unlocks on Tuesday.

While Sui’s price drop has been minimal, its social dominance has been skyrocketing. According to Santiment, the project’s social dominance was 0.99 yesterday, October 2. But at press time, that ratio has increased to 1.53%.

Social dominance represents the ratio of discussions around a project compared to other assets in the top 100. Therefore, this hike indicates a high level of conversations related to SUI. However, the same condition suggests crowd euphoria and elements of Fear Of Missing Out (FOMO), especially as the token’s price has outperformed others.

Read more: A Guide to the 10 Best Sui (SUI) Wallets in 2024

From a price perspective, the extreme reading and FOMO could signal a local top for SUI, possibly leading to a brief price decline. This is another indicator supporting the potential decline in Sui’s volume.

As an important metric, the volume shows the level of coins traded within a specific period. Whenever volume increases, it means there is a lot of buying and selling. However, a decrease indicates a drop in market activity and liquidity.

In Sui’s case, the volume has risen to $1.32 billion. But rising volume on declining price is rarely a bullish signal. Therefore, this increase indicates that SUI is experiencing higher selling pressure, which could accelerate the downturn.

SUI Price Prediction: $2 Target Delayed

From a technical point of view, the Relative Strength Index (RSI) shows that SUI is overbought, suggesting that the price could retrace. The RSI measures momentum and spots oversold and overbought points. When the reading is above 70.00, an asset is overbought. 

On the other hand, a reading below 30.00 means it is oversold. With SUI’s price at $1.85, the RSI is 78.69, reinforcing the condition mentioned above. The Chaikin Money Flow (CMF) is another technical indicator predicting a price decrease.

Typically, the CMF measures the level of accumulation and distribution. When it increases, accumulation is higher than distribution. But a decrease implies otherwise. On the SUI/USD daily chart, the CMF has turned down, indicating that selling pressure has started to hit the token.

Read more: Which Are the Best Altcoins To Invest in October 2024?

Should this continue, SUI’s price could decline to $1.68 in the short term. Higher distribution might, however, send the token down to $1.42. On the flip side, the altcoin might resist downward pressure if the market condition improves. If that happens, SUI’s price might climb to the $2 mark.